Updated on 4 January 2013
Forest will pay $6 million upfront to Glenmark and provide an additional $3 million for the next phase of work
Mumbai: Glenmark Pharmaceuticals, a leading Indian multinational pharmaceutical company, has entered into a collaboration agreement with Forest Laboratories, an NYSE-listed international healthcare leader, for the development of novel mPGES-1 inhibitors to treat chronic inflammatory conditions, including pain.
Glenmark has identified clinical candidates and is currently conducting pre-clinical studies and other development activities required to support the initiation of first-in-human dosing. Under the terms of the agreement, Forest will make a $6 million upfront payment to Glenmark and provide an additional $3 million to support the next phase of work. Forest will make other future payments in FY 2014 to support the advancement of the ongoing mPGES-1 inhibitors program. Forest has an exclusive option to obtain license rights to the program upon the completion of phase 1 clinical trials.
The collaboration will be managed by a joint development committee with equal representation from both companies.
"This collaboration reinforces our strategy of partnering to achieve our goal of launching innovative technologies around the world," said Mr Glenn Saldanha, chairman and managing director, Glenmark Pharmaceuticals. "Forest has an unrivalled reputation as a world leading pharmaceutical company. We're proud to be associated with them and look forward to working together."
"Forest continues to look for innovative ways to expand its broad pipeline including entering into early stage collaborations to secure access to novel products," said Mr Marco Taglietti, senior vice president of R&D and president of the Forest Research Institute.